Banco Santander Brasil SA (NYSE:BSBR) Shares Shorted: Short Interest Up 79.4% in September

Banco Santander Brasil SA (NYSE:BSBR) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 7,921,853 shares, an increase of 79.4% from the August 31st total of 4,416,949 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 5,068,939 shares, the days-to-cover ratio is currently 1.6 days.

Banco Santander Brasil Stock Down 0.4%

Shares of NYSE BSBR traded down $0.03 during midday trading on Tuesday, hitting $5.68. 3,065,574 shares of the company’s stock were exchanged, compared to its average volume of 1,939,198. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.56 and a current ratio of 1.56. Banco Santander Brasil has a 12 month low of $4.94 and a 12 month high of $7.32. The company’s 50 day moving average price is $5.72 and its 200 day moving average price is $5.66.

Banco Santander Brasil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, July 30th were given a dividend of $0.1045 per share. This represents a $0.42 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Thursday, July 30th.

Insider Buying and Selling at Banco Santander Brasil

In other Banco Santander Brasil news, insider Celso Mateus De Queiroz sold 29,299 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $5.78, for a total transaction of $169,348.22. Following the sale, the insider directly owned 23,838 shares of the company’s stock, valued at $137,783.64. The trade was a 55.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Edmilson Saes sold 50,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $5.79, for a total transaction of $289,500.00. Following the transaction, the vice president owned 300,203 shares of the company’s stock, valued at approximately $1,738,175.37. This represents a 14.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,438 shares of company stock valued at $1,338,299 in the last three months. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Banco Santander Brasil

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Banco Santander Brasil by 251.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,804 shares of the bank’s stock worth $34,000 after buying an additional 4,153 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Banco Santander Brasil in the 4th quarter valued at about $36,000. Royal Bank of Canada raised its holdings in Banco Santander Brasil by 41.6% in the 1st quarter. Royal Bank of Canada now owns 7,136 shares of the bank’s stock valued at $43,000 after acquiring an additional 2,098 shares during the period. QRG Capital Management Inc. bought a new position in Banco Santander Brasil in the 2nd quarter valued at about $57,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Banco Santander Brasil by 44.2% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,020 shares of the bank’s stock worth $107,000 after acquiring an additional 5,527 shares during the last quarter. 14.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BSBR shares. HSBC restated a “hold” rating and issued a $6.20 price target (down from $7.20) on shares of Banco Santander Brasil in a research note on Tuesday, September 15th. Wall Street Zen downgraded Banco Santander Brasil from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research cut shares of Banco Santander Brasil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Weiss Ratings upgraded shares of Banco Santander Brasil from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Finally, UBS Group lowered shares of Banco Santander Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, August 24th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.10.

Banco Santander Brasil Company Profile

Banco Santander (Brasil) SA is a Brazilian financial institution and a subsidiary of Spain-based Banco Santander. Headquartered in São Paulo, the bank serves individuals, small and midsize businesses, corporations, and institutional clients throughout Brazil.

The company provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, credit and debit cards, mortgages, payment solutions, and digital banking. Its broader platform also includes corporate and investment banking, private banking, asset management, insurance, and other financial services.

Santander Brasil’s operations were built in part through the expansion of Banco Santander in Brazil and the acquisition of Banco do Estado de São Paulo (Banespa) in 2000.